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SHANGHAI--(BUSINESS WIRE)--EOC Pharma Group (EOC), a leading oncology-focused development and
commercialization company in China, today announced that it has
completed a $32 million Series B financing led by Taikang Investment
through Shandong State-owned Taikang Industry Development Fund
(Taikang). Sequoia China, EOC’s Series A lead investor, and H&Q Asia
Pacific, also participated in the round.

EOC is dedicated to rapidly developing and commercializing innovative
global oncology products in China. The funds will be used to advance the
development of EOC’s mid- and late-stage clinical pipeline, and to
in-license additional late-stage oncology assets to bring new treatment
options to patients in China.

“Investment from these top funds underscores the confidence in our
strategy to advance differentiated, globally developed oncology products
that can transform patients’ lives,” commented Dr. Xiaoming Zou, EOC
Pharma’s Founder and CEO. “Our team’s unique track record for strategic
partnering and commercialization in China, along with our dedicated
manufacturing and local development capabilities, position EOC to
successfully leverage the improved clinical and regulatory environment
and rapidly growing healthcare market in China.”

EOC Pharma has licensed clinical-stage, potentially transformative
product candidates from leading global pharmaceutical and biotech
companies. The Company currently has a broad portfolio of drug
candidates, including two innovative small molecule products expected to
enter Phase 3 registration studies in China in 2018 for the treatment of
breast cancer and gastric cancer, respectively. Its pipeline also
includes innovative biologics being developed for indications in
immuno-oncology and tumor metastasis.

Taikang committed its financial resources to EOC to support the further
development of its powerful platform designed to bring globally
developed innovative drugs to patients in China who currently have
limited treatment options.

About EOC

EOC is a fast-growing, Shanghai-based biopharmaceutical company that is
focused on the in-licensing of innovative global oncology products, and
developing, manufacturing and commercializing them for the China market.
The Company is building a fully integrated manufacturing, development
and commercialization platform, and has a pipeline of six novel products
from global biopharmaceutical partners that are potentially first- and
best-in-class. EOC is a spin-off of the oncology division of
Eddingpharm, a leading specialty pharmaceutical company in China that is
dedicated to in-licensing, marketing and commercializing branded drugs
from global pharmaceutical companies.

About Shandong State-owned Taikang Industry Development Fund

Shandong State-owned Taikang Industry Development Fund is the first
private equity fund raised and managed by Taikang Investment and its
partner Juneng Capital. The fund size is RMB 5 billion, and focused on
healthcare, consumer industry and SOE reform investment. Taikang
Investment is the PE platform of Taikang Asset Management. With over RMB
1,100 billion AUM, Taikang Asset Management is one of the largest
institutional investors in China.